GOLD CLOSES DOWN $ 11.50 TODAY !!!!

Despite an early (shortly after the opening ) rally to make it's High (665.30) the Gold traders couldn't push through the up-side resistance and in my opinion began a Friday profit taking
avalanche. The market was very strong for the most part all week despite Huge dips in the Crude oil. However today the professional traders decided not to push their luck and started to offset their LONG POSITIONS and this resulted in "touching off" STOP-LOSS orders and trending the market south ! Friday's are normally a profit cover day....(with the geo- political climate in the world today...It's the right thing to do )...The U.S. Dollar was 20+ pts. Higher at the Today's market is the perfect example close....
Today's gold market shows a perfect example of why not to "MARRY POSITIONS"....
In other words if the market offers you money "TAKE IT"....
It's hard to watch traders turn winning trades into losing trades, (you'll never go broke taking profits). Huge range today(MOSTLY DOWN)..... $17.30...(top - bottom)...
Crude was only 20 pts. Higher @ Gold close..12:30 pm (cst.)....BUT as of this writing 1:30pm (cst) Crude oil is UP over 160 pts..............................
GOLD ....HIGH...665.30 LOW...648.00 CLOSE...651.50...........

The following are my Gold guideline numbers for 1/5 Monday for April................

resistance # 2............................672.00
resistance # 1............................662.00
pivot.....................655.00
support # 1..............................645.00
support # 2..............................638.00

resistance =possible point to sell
support =possible point to buy
pivot =possible point to determine direction..........

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